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 Here is what you need to know. Here comes the jobs report. The US economy is expected to have added 185,000 nonfarm jobs in September, with the unemployment rate slipping to 3.8%, according to economists surveyed by Bloomberg. Average hourly earnings are expected to have increased 2.8% year-over-year. The 10-year is testing 7-year highs. The benchmark yield hit a high of 3.227% on Thursday — a level last seen in spring 2011 — and is holding just below 3.21%. Stock markets around the world are lower. Japan's Nikkei (+0.8%) trailed in Asia, and Germany's DAX (-0.78%) lags in Europe. The S&P 500 is set to open little changed near 2,902. Why a $603 billion investor is bracing for a rocky end-of-year ride for markets. Neil Dwane, a portfolio manager who is the global strategist at Allianz Global Investors, explains why the conditions that rocked stocks in February haven't disappeared even though markets have rebounded and why they could soon make a comeback. Elon Musk mocks the SEC. "Just want to that the Shortseller Enrichment Commission is doing incredible work," the Tesla CEO tweeted Thursday. "And the name change is so on point!" Super Micro Computers crashes after report says it sold data servers compromised by Chinese spies. Shares plunged 41% after a Bloomberg report said Chinese spies implanted tiny chips in some of the company's server motherboards that ended up being sold to firms including Amazon and Apple. Apple strongly denies bombshell report that Chinese spies were able to secretly implant chips in its servers. In a statement out Thursday afternoon, Apple said it had never found any "malicious chips" or vulnerabilities in "any server" and had not had contact with the FBI about an investigation. Snap tumbles below $8 for the first time. Shares fell as much as 7.8% Thursday — to a record low of $7.56 apiece — after the Evercore analyst Anthony DiClemente said Instagram was "irreversibly" hurting the company. Square is bankrolling merchants to let them extend credit to shoppers. The company will extend credit to customers of merchants for purchases between $250 and $10,000 through its consumer-side lending service "Square Installments," Reuters reports. The owner of MoviePass just freed up room to sell more stock. Helios & Matheson has reached an agreement with creditors that would reduce the number of shares it needs to set aside for notes it issued that can be converted into stock, potentially paving the way for more share sales. The MoviePass parent has increased its share count by 80,000% since July. |
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